Morningstar

3M Co MMM

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Stock XNYS Rating as of
$157.52 +2.18 (1.40%)
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As of Delayed Price Closed

Company Report

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3M Is Constrained by Sluggish End-Markets, but Product Innovations Could Help Reignite Growth

Nicholas Lieb

Estimating 3M's legal liabilities from producing per- and polyfluoroalkyl substances, or PFAS, is a highly uncertain exercise. While some believe these liabilities total greater than the firm's market capitalization, we think 3M's settlements and the spinoff of Solventum reduce 3M's risks substantially. We remain concerned over 3M's incremental PFAS-related liabilities, but we think they're manageable in their current state. 3M continues to work through PFAS-related claims in individual states in the US, with a handful resolved thus far and many more on the docket.

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Price vs Fair Value

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MMM is trading at a LOCK|zFrSQp? premium.
Price
$157.52
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

3M’s legacy portfolio remains highly profitable and is poised to benefit from multiple secular growth trends, such as a growing global middle class and rising regulatory standards.

Bears

Multibillion-dollar pending litigation risks will cripple the value of the company and remove any benefit from potential fundamental catalysts.

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News

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Trading Information

Previous Close Price
$155.34
Day Range
$155.40–158.41
52-Week Range
$139.34–177.41
Bid/Ask
$157.30 / $160.00
Shares Outstanding
521.57M
Market Cap
$82.16B
Volume/Avg
2M / 4M

Key Statistics

Price/Earnings (Normalized)
18.99
Price/Sales
3.39
Dividend Yield (Trailing)
1.92%
Dividend Yield (Forward)
1.98%
Total Yield
6.76%

Company Profile

3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.
Sector
Industrials
Industry
Conglomerates
Stock Style Box
Mid Value
Total Number of Employees
60,500
Website
https://www.3m.com

Competitors

Valuation

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Metric
MMM
KMB
PG
Price/Earnings (Normalized)
 18.9918.7822.36
Price/Book Value
 25.2621.216.55
Price/Sales
 3.392.314.28
Price/Cash Flow
 17.1411.4521.47
Price/Earnings
MMM
KMB
PG

Financial Strength

Metric
MMM
KMB
PG
Quick Ratio
 0.880.370.49
Current Ratio
 1.590.770.73
Interest Coverage
 4.879.6325.08
Quick Ratio
MMM
KMB
PG

Profitability

Metric
MMM
KMB
PG
Return on Assets (Normalized)
 11.85%11.00%13.35%
Return on Equity (Normalized)
 104.79%132.33%31.88%
Return on Invested Capital (Normalized)
 28.47%23.00%19.30%
Return on Assets
MMM
KMB
PG

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